Republic of Korea: Closed consultation on draft Act on Fair Intermediate Transactions on Online Platforms

On 9 November 2020, the public consultation closed on the Fair Trade Commission draft Act on Fair Intermediate Transactions on Online Platforms. In particular, the draft Bill addresses unfair trade practices against online platform users and includes obligations for platforms concerning contracts, dispute resolution systems, standards, and legal liability. The draft Bill would require platforms to sign an online platform intermediary transaction contract with their users, notify the users of the reason for contract termination and prohibit online platforms from unfairly using their trading status to require users to acquire goods or services or offer specific benefits.